James Investment Research Inc. Takes Position in McGrath RentCorp (MGRC)
James Investment Research Inc. purchased a new stake in shares of McGrath RentCorp (NASDAQ:MGRC) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 36,200 shares of the financial services provider’s stock, valued at approximately $1,701,000.
Several other hedge funds also recently bought and sold shares of the company. Macquarie Group Ltd. acquired a new position in shares of McGrath RentCorp during the 3rd quarter worth approximately $121,000. SG Americas Securities LLC acquired a new position in shares of McGrath RentCorp during the 3rd quarter worth approximately $142,000. Cubist Systematic Strategies LLC acquired a new position in shares of McGrath RentCorp during the 3rd quarter worth approximately $233,000. Thrivent Financial For Lutherans acquired a new position in shares of McGrath RentCorp during the 2nd quarter worth approximately $246,000. Finally, Legal & General Group Plc raised its position in shares of McGrath RentCorp by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 7,252 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 172 shares during the last quarter. Institutional investors own 82.78% of the company’s stock.
McGrath RentCorp (NASDAQ MGRC) opened at $48.83 on Wednesday. The firm has a market capitalization of $1,170.00, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 2.22 and a beta of 1.02. McGrath RentCorp has a twelve month low of $32.09 and a twelve month high of $50.69.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 17th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, January 16th. This represents a $1.04 annualized dividend and a yield of 2.13%. McGrath RentCorp’s dividend payout ratio (DPR) is presently 54.74%.
Several brokerages recently issued reports on MGRC. BidaskClub downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Zacks Investment Research downgraded McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. ValuEngine downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Oppenheimer restated a “hold” rating on shares of McGrath RentCorp in a research report on Wednesday, November 1st.
In other McGrath RentCorp news, Director Dennis P. Stradford sold 3,900 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $49.41, for a total value of $192,699.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $247,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Keith E. Pratt sold 1,412 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $46.01, for a total value of $64,966.12. Following the completion of the transaction, the chief financial officer now owns 28,118 shares of the company’s stock, valued at $1,293,709.18. The disclosure for this sale can be found here. Insiders sold a total of 13,159 shares of company stock valued at $628,935 over the last quarter. 4.60% of the stock is currently owned by insiders.
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McGrath RentCorp Company Profile
McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).
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